Revenue eBrief No. 235/24
04 September 2024
CAT Part 26 Reporting requirements relating to certain interest-free loans
Where a person is deemed to take a gift in respect of a loan, they may be required to report information in relation to the loan in a CAT IT38 return.
Section 46(4A) CATCA 2003 was introduced by the Finance (No. 2) Act 2023 and provides the statutory basis for this reporting requirement.
A new Tax and Duty Manual (TDM) - CAT Part 26 - has been created in relation to this new reporting requirement.
The TDM sets out guidance on the reporting requirement and includes a number of examples of loan arrangements that come within the definition of a 'specified loan' for the purposes of the legislation.
The TDM also provides examples of circumstances where the reporting requirement will arise and the due dates for filing the information in a CAT IT38 return.